NEW YORK — This Thanksgiving weekend turned out to be a remarkable period for the box office, reminiscent of the holiday season with a record-breaking influx of moviegoers. The highly anticipated release of “Moana 2” captivated audiences, netting an impressive $221 million in ticket sales according to initial studio estimates. This monumental figure, together with strong performances from “Wicked” and “Gladiator II,” created an extraordinary backdrop in cinemas, often associated with late December’s film releases.
Walt Disney Co.’s “Moana 2” certainly exceeded the industry’s high expectations, establishing a new benchmark for Thanksgiving openings. The film’s five-day debut surpassed the previous record of $125 million set by “Frozen 2,” which had been released during the same holiday weekend in 2019. Additionally, “Moana 2” managed to rake in $165.3 million from international audiences, further solidifying its status as a blockbuster hit.
Meanwhile, “Wicked” showed remarkable staying power, earning $117.5 million over the five-day holiday. Its total gross worldwide climbed to $359.2 million after just two weeks in release. Remarkably, without adjusting for inflation, “Wicked” has become the highest-grossing adaptation of a Broadway musical, overtaking “Grease,” which amassed $190 million, though inflation would raise its total past $900 million when considering historical data.
“Gladiator II” performed decently as well, experiencing a 44% drop in ticket sales from its debut weekend. The sequel to Ridley Scott’s celebrated best picture winner garnered $44 million in its second weekend, bringing its global total swiftly to $320 million. However, the film’s hefty production budget of $250 million poses a challenge for profitability moving forward.
These three blockbuster titles collectively pushed the overall box office tally over the $400 million mark during the Thanksgiving weekend, marking a record-breaking performance. Given that the film industry has faced immense challenges in previous years due to the pandemic and subsequent shifts in viewing habits, this weekend represented a significant victory, demonstrating Hollywood’s enduring allure.
Michael O’Leary, the president and CEO of the National Association of Theatre Owners, interpreted the successful weekend as evidence of what can happen when major cinematic pieces align. He expressed optimism, suggesting that this weekend might signify a robust recovery for the industry. He noted, “The last quarter of this year appears promising, leading into an anticipated return to normalcy in 2025 and 2026. We’re hopeful that next year will represent the first genuine normalcy the industry has encountered in a long while.”
Reflecting on the successful release schedule, industry experts recognize a trend towards allowing blockbuster films to premiere concurrently, ensuring competition that can benefit movie-goers. In the past, studios often spaced out their largest releases to avoid clashing box office returns, but the success of simultaneous releases seems to suggest that competition can invigorate theatrical attendance.
O’Leary commented on this observation, remarking that the old adage against releasing big titles at the same time is giving way to a new understanding. “Competition is advantageous. It’s beneficial for the films, the studios, the theater owners, and especially for the audience itself,” he stated.
